{
  "url": "https://openlegislation.uk/cayman-islands-constitution-order-2009/schedule-2/paragraph-113",
  "json_url": "https://openlegislation.uk/cayman-islands-constitution-order-2009/schedule-2/paragraph-113.json",
  "legislation": "uksi/2009/1379",
  "legislation_title": "The Cayman Islands Constitution Order 2009",
  "legislation_url": "https://openlegislation.uk/cayman-islands-constitution-order-2009",
  "path": "schedule/2/paragraph/113",
  "kind": "paragraph",
  "number": "113",
  "heading": "Public debt",
  "text": "(1) Total Government borrowing shall not exceed an amount for which the sum of—\n(a) total interest payments;\n(b) total other debt servicing expenses, including arrangement fees and sinking fund expenses; and\n(c) total principal or amortised debt repayments,\nfor a financial year is more than a percentage of Government revenue set out in law and agreed with a Secretary of State (calculated using generally accepted accounting practice) for that financial year.\n(2) Subject to this Constitution, a law enacted by the Legislature may provide for a higher percentage for a limited period where a matter arises of a nature or urgency which in the opinion of the Cabinet makes it necessary to do so.\n(3) For the purposes of this section, “Government borrowing” means borrowing in the name of the Government regardless of whether repayments are made directly by the Government or by a public or governmental body (including any statutory body, company or association).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
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  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2009/1379/schedule/2/paragraph/113",
    "retrieved_at": "2026-10-29T03:11:20.423553+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}